The CMA closed the consultation to its provisional findings on 2 September 2021 after closing the consultation to its notice of possible remedies on 25 August 2021. On 12 August 2021, the Competition and Markets Authority (CMA) announced provisional findings of their in-depth investigation into the merger between Facebook Inc. and Giphy Inc. The findings include several concerns about the potentially harmful effects the merger could have on competition. If proven, those concerns could lead to an obligation for Facebook to reverse the merger by selling Giphy. More specifically, the merger potentially eliminates a competitor in the display advertising market and will reduce competition between social media platforms according to the CMA. The CMA will issue its final report on 6 October 2021.
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